THE UNIVERSITY OF NORTH CAROLINA AT ASHEVILLE
FACULTY SENATE
Senate Document Number 2496S
Date of Senate Approval 2/896
Statement of Faculty Senate Action:
APC Document 22: Revision of Principles of Accounting Courses
(Department of Management and Accountancy)
Effective Date: Fall 1996
Delete: In Catalog 1995-96, on page 155, under Courses in
Accounting, delete the following course description:
"218 Principles of Accounting (4)
Introduction to financial and managerial accounting. Emphasis on
the principles and most common practices used to generate the
balance sheet and the income statement; management accounting;
internal control, planning, and special decisions; the statement of
cash flow. Course offered every semester. No credit given for
students who have completed ACCT 216."
Add: In Catalog 1995-96, on page 155, under Courses in Accounting,
add the following course descriptions:
201 Principles of Accounting I (Applied) (3)
Introduction to financial and managerial accounting. The
course focuses on the relationships between accounting events
and financial statements, The course will provide a base of
analytical tools that enable students to identify meaningful
differences in business performance as reflected in financial
statements. Additional topics covered will include cash
flows, budgeting, internal controls, ratio analysis, time
value of money. Course offered every semester. No credit
given if credit received for ACCT 216 or ACCT 218.
202 Principles of Accounting II (Procedural) (3)
Emphasis on the procedural aspects of financial accounting.
The student will learn recording procedures that will enable
them to organize accounting information for the preparation of
financial statements. Students will be expected to use
computers and apply knowledge of accounting in developing
financial reports. Prerequisite: ACCT 201 or permission of
instructor. Course offered every semester after Fall, 1996.
No credit given if credit received for ACCT 215 or ACCT 218.
Delete: In Catalog 1995-96, on page 151, under Declaration of
Major, paragraph I, second line, delete the following line:
"ACCT 218, ECON 201*, MGMT 220 and STAT 185*."
Add: In Catalog 1995-96, on page 151, under Declaration of Major,
paragraph I, second line, add the following line:
"ACCT 201, ECON 201*, MGMT 220 and STAT 185*."
Delete: In Catalog 1995-96, on page 152, under General Requirements
for Management, paragraph I, delete the line:
"A core of 41 semester hours is required, as specified below:"
Add: In Catalog 1995-96, on page 152, under General Requirements
for Management, paragraph I, add the line:
"A core of 40 semester hours is required, as specified below:"
Delete: In Catalog 1995-96, on page 152, under General Requirements
for Management, paragraph Ib, delete the line:
"Required courses outside the major - 17 hours: ACCT 218; ECON"
Add: In Catalog 1995-96, on page 152, under General Requirements
for Management, paragraph Ib, add the line:
"Required courses outside the major - 16 hours: ACCT 201; ECON"
Delete: In Catalog 1995-96, on page 153, under Declaration of
Major, paragraph I, second line, delete the following line:
"ACCT 218, ECON 200, MATH 191 and MGMT 220."
Add: In Catalog 1995-96, on page 153, under Declaration of Major,
paragraph I, second line, add the following line:
"ACCT 201, ECON 200, MATH 191 and MGMT 220."
Delete: In Catalog 1995-96, on page 154, under General Requirements
for Industrial and Engineering Management, delete the line:
"This program requires a total of 125 semester hours. Major
requirements are specified below:"
Add: In Catalog 1995-96, on page 154, under General Requirements
for Industrial and Engineering Management, add the line:
"This program requires a total of 124 semester hours. Major
requirements are specified below:"
Delete: In Catalog 1995-96, on page 154, under General Requirements
for Industrial and Engineering Management, paragraph II, delete the
line:
"Required courses outside the major - 51 hours as follows: ACCT
218; CHEM 141, 142;"
Add: In Catalog 1995-96, on page 154, under General Requirements
for Industrial and Engineering Management, paragraph II, add the
line:
"Required courses outside the major - 50 hours as follows: ACCT
201; CHEM 141, 142;"
Delete: In Catalog 1995-96, on page 154, under Declaration of
Major, paragraph I, second line, delete the following line:
"course: ACCT 218; ECON 201*; MGMT 220; and STAT 185*."
Add: In Catalog 1995-96, on page 154, under Declaration of Major,
paragraph I, second line, add the following line:
"course: ACCT 201, ECON 201*, MGMT 220 and STAT 185*."
Delete: In Catalog 1995-96, on page 154, under General Requirements
for Accounting, delete the line:
"A core of 38 semester hours is required, as specified below:"
Add: In Catalog 1995-96, on page 154, under General Requirements
for Accounting, add the line:
"A core of 40 semester hours is required, as specified below:"
Delete: In Catalog 1995-96, on page 154, under General Requirements
for Accounting, paragraph I, delete the line:
"Required courses in the major - 22 hours: ACCT 218, 301, 302, 303,
317, 340, 415."
Add: In Catalog 1995-96, on page 154, under General Requirements
for Accounting, paragraph I, add the line:
"Required courses in the major - 24 hours: ACCT 201, 202, 301, 302,
303, 317, 340, 415."
Delete: In Catalog 1995-96, on page 155, under Courses in
Accounting, in the course description for 301 Intermediate
Accounting I (3), after the word "Prerequisite", delete the words:
"ACCT 218."
Add: In Catalog 1995-96, on page 155, under Courses in Accounting,
in the course description for 301 Intermediate Accounting I (3),
after the word "Prerequisite" add the words: "ACCT 202."
Delete: In Catalog 1995-96, on page 156, under Courses in
Accounting, in the course description for 317 Cost Accounting (3),
after the word "Prerequisites", delete the words: "ACCT 218"
Add: In Catalog 1995-96, on page 156, under Courses in Accounting,
in the course description for 317 Cost Accounting (3), after the
word "Prerequisites" add the words: "ACCT 202"
Delete: In Catalog 1995-96, on page 156, under Courses in
Accounting, in the course description for 319 Fund Accounting (3),
delete the first two lines:
"Fundamentals of accounting for governmental departments, not-for-
profit institutions, and all other groups using funding.
Prerequisites: ACCT 218 and demonstration of"
Add: In Catalog 1995-96, on page 156, under Courses in Accounting,
in the course description for 319 Fund Accounting (3), add as the
first two lines:
"Fundamentals of accounting for governmental departments, colleges
and universities, health care entities, and other not-for-profit
institutions. Prerequisites: ACCT 202 and demonstration of"
Delete: In Catalog 1995-96, on page 156, under Courses in
Accounting, in the course description for 330 Microcomputer
Applications in Business (3), delete the last line:
"MGMT 220; ACCT 218. Course offered every fall semester."
Add: In Catalog 1995-96, on page 156, under Courses in Accounting,
in the course description for 330 Microcomputer Applications in
Business (3), add as the last line:
"MGMT 220; ACCT 201. Course offered every fall semester."
Delete: In Catalog 1995-96, on page 158, under Courses in
Management, in the course description for 321 Financial Management
of Health Care Institutions (3), delete the last line:
"ACCT 218. Course offered on demand."
Add: In Catalog 1995-96, on page 158, under Courses in Management,
in the course description for 321 Financial Management of Health
Care Institutions (3), add as the last line:
"ACCT 201. Course offered on demand."
Delete: In Catalog 1995-96, on page 158, under Courses in
Management, in the course description for 341 Commercial Law (3),
delete the last line:
"ACCT 218; MGMT 220. Course offered every spring semester."
Add: In Catalog 1995-96, on page 158, under Courses in Management,
in the course description for 341 Commercial Law (3), add as the
last line:
"ACCT 201; MGMT 220. Course offered every spring semester."
Delete: In Catalog 1995-96, on page 159, under Courses in
Management, in the course description for 360 Small Business
Management (3), delete the second line:
"development and operation of a small business. Prerequisites:
MGMT 350; ACCT 218."
Add: In Catalog 1995-96, on page 159, under Courses in Management,
in the course description for 360 Small Business Management (3),
add as the second line:
"development and operation of a small business. Prerequisites:
MGMT 350; ACCT 201."
Delete: In Catalog 1995-96, on page 160, under Courses in
Management, in the course description for 386 Systems and
Information Management (3), delete the third line:
"information. Prerequisite ACCT 218; Pre- or co-requisite: MGMT
300. Course offered"
Add: In Catalog 1995-96, on page 160, under Courses in Management,
in the course description for 386 Systems and Information
Management (3), add as the third line:
"information. Prerequisite ACCT 201; Pre- or co-requisite: MGMT
300. Course offered"
Delete: In Catalog 1995-96, on page 161, under Courses in
Management, in the course description for 468 Small Business
Development (3), delete the second line:
"with a typical small business. Prerequisites: MGMT 340, 360; ACCT
216. Course"
Add: In Catalog 1995-96, on page 161, under Courses in Management,
in the course description for 468 Small Business Development (3),
add as the second line:
"with a typical small business. Prerequisites: MGMT 360. Course"
Impact: Four departments are affected by this decision. The
Management and Accountancy Department currently requires all
students to complete ACCT 218. All accounting majors will be
required to complete ACCT 201 and 202. All management majors and
industrial and engineering management majors will be required to
complete ACCT 201; ACCT 202 will be recommended for these students
as an elective. The Economics Dept., Computer Science Dept., and
Environmental Studies Program require their students to take ACCT
218. We are recommending they require their students to take ACCT
201 only.
Rationale: Accounting majors need a greater foundation in
Accounting Principles than is possible to cover in the ACCT 218, 4
cr. hr., one semester course. While Management, Economics,
Computer Science, and Environmental Science majors would benefit
from taking the second course as an elective, their main need as
users of accounting information should be satisfied by ACCT 201.
Prior to Fall, 1995, Principles of Accounting was a two semester
sequence: ACCT 215 Prin. of Accounting I (Financial Accounting) 3
cr. hrs., and ACCT 216 Prin. of Accounting II (Managerial
Accounting) 3 cr. hrs. ACCT 215 was a pre-requisite for ACCT 216.
Based on research done by the Accounting Education Change
Commission, a national organization started by college professors
from across the United States, colleges have been encouraged to
shift the emphasis in Principles of Accounting to a user-
orientation instead of a procedural approach. We made the decision
to shift to the "user approach" and drastically reduce the
procedural topics covered in Principles. We did this by meeting
class 300 minutes per week and including a software package in the
computer lab; students receive four credit hours for this course.
It has been a brave experiment but it is already clear that we are
covering too much content for the credit hours allowed. For
students to be able to successfully retain the material in ACCT
218, we would need to reduce the content even more. The reduced
content in ACCT 218 (over the ACCT 215/216 sequence) is putting
accounting majors at a major disadvantage in being able to handle
the remaining accounting courses they are required to take.
Unrealistic requirements are putting other majors at a
disadvantage. Reducing the content of ACCT 218 would have an even
greater negative impact on accounting majors. The reputation of
the UNIVERSITY OF NORTH CAROLINA AT ASHEVILLE Accounting Program
has been very high; we are sure it will suffer unless we are able
to expand the Principles course back to two semesters for
accounting majors. We also feel we can reduce the content in the
first course without having a major negative impact on non-
accounting majors.